IB's Real Time Data fees

Discussion in 'Retail Brokers' started by Comptalk, Mar 22, 2012.

  1. Switching from Scottrade to IB has had some changes here and there. Unlike Scottrade, IB gives no free data in terms of quotes. The pro fees are like 200 bucks a month just for real time data. That's crazy. Anyone know a service I can use to get this data at a lower price?
     
  2. You'll get most quotes you'll probably need at IB for free if your commissions are $30+ for a month. Not too difficult to achieve.
     
  3. N54_Fan

    N54_Fan

    This is only in an individual acct. He is talking about when you are listed as a "Corporation" you are automaticaly classified as a "pro" trader and then you have to pay $200/month for data feeds.

    The way around it is to subscribe to another service for the data feeds or get an individual acct at IB and pay the $10 a month for the individual acct that has a nominal amount that you do NOT trade ... just to get the feed.
     
  4. Aren't the Pro fees $200 everywhere?
     
  5. Yep. Since I'm a corp, I'm classified as a "pro". Which is bullcrap. I like the commissions with IB, but without real time data, which Scottrade and TD Ameritrade gave for free, it is a small fortune every month.

    Anyone know of a broker who offers similar trading fees such as IB, but offers real time data at an affordable rate? I'n not paying 2500.00 a year for real time data where other brokers offer it for free, or at least at a fair rate.
     
  6. N54_Fan

    N54_Fan

    These fees are set by the exchanges NOT IB or any other broker. All of them are nearly the same. Again,...sign up for an individual acct AND corporate acct and you use the info/data from the individual acct and trade on corp acct. The thing I am also considering is to use "Pro acct" to trade and the FOREX data is still free. I use stockcharts.com for my charting so that service has realtime feeds for ~$10 /month. However, they do not have realtime feeds for other non-US exchanges and not for FOREX. So a bit of a workaround....use stockcharts for stocks and ETFS and IB Pro data feed for FOREX.
     
  7. zdreg

    zdreg

    the op seems to be implying that he received a rebate of
    200/month .was that the situation?
     
  8. No he was not implying that. He was just say he could get the data free of charge with Scottrade and TD.